Water and Agriculture Sustainability, Markets and Policies: Chapter 10. Developing Economic Arrangements for Water Resources Management - The Potential of Stakeholder-oriented Water Valuation
Source: SourceOECD Environment & Sustainable Development, Volume 2006, Number 17, October 2006 , pp. 280-303(24)
Abstract:As water is increasingly recognised as a scarce resource, the use of economic arrangements for water resources management seems increasingly promising. Experiences show that economic arrangements can contribute to a more efficient use of water resources, but only if specific conditions are met, related to a well-functioning institutional framework and regulations that ensure that the use of economic arrangements is balanced with broader societal objectives. One of the remaining questions is how to replicate the existing cases where economic arrangements are successfully used in water resources management, in other areas where the conditions seem promising. Therefore, this paper reviews three cases in the USA, Ecuador and Australia where economic arrangements have been successfully applied, focusing on the processes that have characterised their evolution. Based on these cases, it is concluded that stakeholder-oriented valuation can offer useful support for the development of economic arrangements for water resources management, and an approach for such stakeholder-oriented water valuation is briefly outlined and illustrated.
Document Type: Review article
Publication date: 2006-10-01